Passwordless Authentication Vendor Secret Double Octopus Continues Executive Build Out with Yair Averbuch Named as Chief Financial Officer

IPO and scale out CFO veteran Averbuch joins Double Octopus to build out the company’s finance and operations for continued growth.

PALO ALTO, Calif.--(BUSINESS WIRE)--Secret Double Octopus (SDO), the global leader in next generation workforce authentication, today announced Yair Averbuch as Chief Financial Officer. In his role he will lead and manage all Double Octopus’ financial and operational activities as it continues its global growth and continued market expansion.

Averbuch joins the company as enterprise interest in MFA remains strong following the shift to remote work during the pandemic. In addition, more companies are making the full jump to passwordless MFA. Last month, Gartner highlighted passwordless authentication as the only major technological shift in security in the “Act Now” category (meaning mass impact within 0 and 1 year) in their annual Tech Radar of Emerging Technologies and Trends. Secret Double Octopus itself, in conjunction with the Ponemon Group, recently sponsored the largest study related to workforce authentication and found that 66% of companies that have not adopted passwordless already plan to do so in the next 2 years.

Averbuch brings over 25 years of experience as CFO of public and private companies in Israel and abroad. His experience spans IPOs, M&A, investor relations, private placements, planning, analysis and control, operations, and human resources. Averbuch has been the CFO of several successful companies in Israel and took Caesarstone, a global leader of kitchen countertop products, public on NASDAQ. Averbuch has also held an executive finance role at Applied Materials (U.S.), the global leader of capital equipment products for the semi-conductor industry. He holds an MBA from the Hebrew University, Israel.

“We are excited to have Yair round out our executive team in key areas this year,” said Raz Rafaeli, CEO and Co-founder of Secret Double Octopus. “Yair is a proven financial and operational impact executive, and we look forward to leveraging his experience to rapidly scale up and expand our global operation to address the growing market opportunity.”

“I am thrilled to join Secret Double Octopus to help organizational workforces begin their journeys to passwordless with the recognized leader in the space,” said Averbuch. “Double Octopus is in a unique position to capture significant market share over the coming 18 to 24 months with the right financial management and investment”.

About Secret Double Octopus

Secret Double Octopus is the global leader in next generation workforce authentication solutions. It’s industry-leading Octopus platform offers mid-market to Fortune 100 enterprises the ability to move to a higher security, more frictionless authentication future progressively, from MFA to end-to-end, unified passwordless authentication. From leveraging existing MFA authenticators to supporting legacy on premise applications, no other desktop MFA and enterprise passwordless platform offers as much robustness and flexibility as the Octopus solution. The company has been designated a Gartner "Cool Vendor" and more recently named “Best-in-Class" passwordless solution by AITE Group in 2021. Learn more at https://doubleoctopus.com/.